Peters calls for compulsory super
12:50PM Friday February 23, 2007

New Zealand First leader Winston Peters says the economy is fundamentally weak and must be strengthened by a compulsory savings scheme.

Mr Peters has campaigned for compulsory savings for more than a decade, and said today it was a tragedy that National and Labour had both rejected his proposals in the past.

"We are now in a position where we have no choice -- we must have compulsory savings," he said in a speech to the Canterbury Club.

"It's time to take the medicine, institute compulsory savings and deal with the long-standing blemish on our economy."

Mr Peters, who is Minister of Foreign Affairs, said the economy appeared to be performing well but a facade was hiding a fundamental structural weakness.

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